Adobe Systems Incorporated (NASDAQ:ADBE) – Equities research analysts at KeyCorp increased their FY2018 earnings per share estimates for Adobe Systems in a research note issued to investors on Monday, October 15th. KeyCorp analyst B. Bracelin now forecasts that the software company will earn $5.69 per share for the year, up from their prior estimate of $5.63. KeyCorp currently has a “Buy” rating and a $286.00 target price on the stock. KeyCorp also issued estimates for Adobe Systems’ Q4 2018 earnings at $1.56 EPS, Q4 2019 earnings at $1.79 EPS and FY2019 earnings at $6.54 EPS.

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Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 13th. The software company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.69 by $0.04. Adobe Systems had a net margin of 28.16% and a return on equity of 29.51%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the company posted $1.10 earnings per share. The company’s quarterly revenue was up 24.4% compared to the same quarter last year.

ADBE has been the topic of a number of other research reports. BidaskClub raised shares of Adobe Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 25th. Citigroup raised their target price on shares of Adobe Systems from $260.00 to $309.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Pivotal Research raised their target price on shares of Adobe Systems from $235.00 to $254.00 and gave the stock a “hold” rating in a report on Friday, September 14th. Jefferies Financial Group raised their target price on shares of Adobe Systems to $315.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Finally, Wedbush initiated coverage on shares of Adobe Systems in a report on Thursday. They issued a “neutral” rating and a $270.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $268.79.

Shares of ADBE stock opened at $245.03 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.21. Adobe Systems has a one year low of $165.68 and a one year high of $277.61. The stock has a market cap of $126.38 billion, a PE ratio of 70.25, a P/E/G ratio of 2.79 and a beta of 1.08.

In other Adobe Systems news, EVP Ann Lewnes sold 2,939 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $253.80, for a total value of $745,918.20. Following the sale, the executive vice president now owns 61,498 shares in the company, valued at $15,608,192.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Abhay Parasnis sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $260.01, for a total transaction of $2,730,105.00. The disclosure for this sale can be found here. Insiders sold 19,290 shares of company stock worth $5,033,567 in the last 90 days. 0.33% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Signature Estate & Investment Advisors LLC acquired a new position in shares of Adobe Systems during the second quarter valued at approximately $107,000. Rainier Group Investment Advisory LLC acquired a new position in shares of Adobe Systems during the first quarter valued at approximately $130,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Adobe Systems during the first quarter valued at approximately $132,000. Centaurus Financial Inc. acquired a new position in shares of Adobe Systems during the second quarter valued at approximately $170,000. Finally, Cerebellum GP LLC increased its stake in shares of Adobe Systems by 55.8% during the second quarter. Cerebellum GP LLC now owns 712 shares of the software company’s stock valued at $174,000 after acquiring an additional 255 shares during the period. Institutional investors own 85.15% of the company’s stock.

About Adobe Systems

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.